On Yer Bike! Cycle Theft Notches Up Top Spot in Household Insurance Policy Claims Poll

On Yer Bike! Cycle Theft Notches Up Top Spot in Household Insurance Policy Claims Poll

- in Home Insurance, News

Ahead of handbags, mobile phones, watches and jewellery, a recent survey has revealed that bicycles account for THE most readily stolen item when it comes to policyholders claiming on their household cover. With the public profile of cycling having been raised significantly in recent years – due to the Tour de France getting under starters orders in Britain in 2014 and before that the likes of Sir Chris Hoy, Bradley Wiggins and Victoria Pendleton bagging cycling Gold medals at the 2012 London Olympics amongst other defining moments – an increasing number of people have taken up the leisure pastime and invested in expensive bikes on which to indulge their new-found love.

Which of course means there have been a greater volume of cycles being stored in garages, garden sheds and outhouses up and down the UK.

Having recently undertook a poll to determine percentages of specific household items which have been cited in personal theft claims, leading household policy provider, HomeProtect found that some 46% of all claims in this particular area concerned bikes; according to a recent report.

As the summer kicks into gear in the coming weeks, more and more people will dust the cobwebs off their bikes and head off to enjoy the sights and sounds best experienced on two wheels (pedal-powered that is) rather than four, which will subsequently result in more bikes potentially going missing if they’re not secured properly.

More Bike-owners Claim against Home Content Insurance Policies than Those Reporting Stolen Handbags, Mobiles, Watches and Jewellery, According to Latest Research

And it’s security that’s the crux of the matter as far as the poll-conducting household insurer is concerned, with HomeProtect’s Director of Product and Marketing, Shane Leivers telling Insurance Age that; “As well as investing in locks and registering your bike to your address, adding your bike to your home contents insurance policy should be a straight-forward decision.”

Unfortunately this is not always the case, which means that many bike owners end up footing their own bill when it comes to replacing their pride and joy, yet as Leivers himself stresses; “Preventing bike theft should be a priority for every rider.”

Meanwhile – and addressing the issue of just where in the country is more prone to bike thefts – it appears that East Anglia fares worst, as the same research shifted its focus towards the geography behind the claims too. Representing 16% of the total bike theft figures (in terms of household insurance policy claims), London (14%), the South West of England (13%) and jointly the South East and the Midlands (12%) headed up the top 10 locations where most cycles had been stolen from in recent times; whilst at the other end of the spectrum North East England (5%) and Wales (3%) emerged as the regions least likely to suffer at the hands of bike thieves.

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